Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Posted by: Michael Mandel on May 26
I’ve got a new story here about how the housing boom is hurting the rest of the economy.
Unfortunately, I didn’t have room for this wonderful chart, which shows how housing and medical care are squeezing out other types of consumption spending.
This chart shows that outside of housing and medical care, personal consumption has actually plunged to its lowest level ever, as a share of domestic demand.
(In this chart, domestic demand is GDP minus the trade deficit, and the 2005 data is for the first quarter, of course.)
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.